Equity Alert: Mkt up 2% amid volatility; bank shares gain, IT down

[K.Karthik Raja]

Equity Alert: Mkt up 2% amid volatility; bank shares gain, IT down
Friday,Jul18
Equity Alert: Mkt up 2% amid volatility; bank shares gain, IT down
MUMBAI--1:35PM--Trade remained volatile in mid-session tracking
the trend in overseas markets, but short covering lifted key share
indices up 2%, European markets opened around 1% down but recouped
losses and were
trading flat.
Sensex was at 13382.22, up 270.37 points or 2.1% from Thursday's
close.
Nifty was at 4021.65, up 73.65 points or 1.9%.
We expect the market to remain volatile till Jul 22, when the
Congress-led United Progressive Alliance government seeks a vote of
confidence in Lok Sabha.
Shares of banks and real estate companies were top gainers in
Nifty.
ICICI Bank surged over 9%, and Housing Development Finance Corp gained
8%.DLF rose 4%.
Information technology shares were worst-hit in Nifty on
disappointingearnings outlook from Wipro and Satyam Computer
Services. Satyam Computer was down 8% and Wipro shed 5%.
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